Temenos and Mastercard to Expand Cross Border Payment Options for Banks

Temenos and Mastercard to Expand Cross Border Payment Options for Banks

by June 5, 2024

Banking software company Temenos has announced a partnership with Mastercard to provide banks and their customers with more options for international money transfers.

This partnership will integrate Mastercard Move, a comprehensive suite of money transfer solutions, into Temenos Payments Hub.

Mastercard Move’s solutions facilitate secure and swift international money transfers, offering cost-effective options to route and deliver funds through Mastercard’s extensive global network.

With nearly 10 billion endpoints in over 180 countries, recipients can choose from various disbursement options, including cards, bank accounts, cash pick-up locations, and mobile wallets.

The integration of Mastercard Move into Temenos Payments Hub will enable Temenos customers to quickly adopt Mastercard’s cross-border capabilities and consolidate them with other payment systems on a single platform.

Temenos Payments Hub, built on a flexible cloud-native, API-first architecture, manages multiple payment types and schemes through intelligent routing, meeting the demands of a rapidly evolving payments landscape.

Mastercard Move will be available to banks via the Temenos Exchange ecosystem of fintech solutions.

Mick Fennell

Mick Fennell

Mick Fennell, Business Line Director – Payments, Temenos, said,

“By combining Mastercard Move’s capabilities with our flexible Payments Hub, integrated with our comprehensive account services, we are empowering banks to turn on a new cross-border distribution option with ease and provide their customers with seamless and secure international payment experiences.”

Roberto Tittarelli

Roberto Tittarelli

Roberto Tittarelli, EVP New Payments Platform Europe, said,

“With the integration of Mastercard Move’s money transfer solutions with Temenos’ payments capabilities, banks will benefit from a streamlined process to deploy, scale, and maintain ongoing interoperability for cross-border payments.

 

This will in turn provide the banks’ customers with fast, secure and efficient cross-border payments, making them the ultimate beneficiaries.”

 

Featured image credit: Edited from Freepik